From Real Time Economics:
U.S. nonfarm payrolls grew a seasonally adjusted 223,000 and the unemployment rate ticked down to 5.4% in April, a welcome rebound after a soft patch of economic data, including particularly weak hiring in March. The figures suggest the economy is regaining its footing and could reassure Federal Reserve officials that they can start to lift interest rates later this year–though exactly when remains uncertain. Here are initial reactions from economists....MORE
“Reassuring would be the word I would use to summarize. The fear was that another poor reading would suggest the U.S. economy were slipping back into a malaise. But this morning’s number across a lot of fronts was very positive and likely brings September back into focus for the Federal Reserve.” –Carl Tannenbaum, chief economist at Northern Trust
“While recent economic data on the economy has been mixed, today’s job picture confirms that we are better off. This is a modest rebound. As the year progresses and moving away from the weak first quarter, I expect the job market to continue to strengthen.” – Jack Kleinhenz, chief economist at the National Retail Federation
“While some of the signals from today’s data were mixed, we think the overall message is that progress in the labor market has resumed after pausing in March. This should give policy makers some confidence that the economy is proving resilient to the shocks of lower oil prices and a stronger dollar. The U.S. economy is primarily a services economy and service-sector activity appears to be holding up. After today’s employment report, September remains our baseline for FOMC liftoff.” – BNP Paribas
Also at RTE:
